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In national accounts, net output is equivalent to the gross value added during an accounting period when producing enterprises use inputs (labor and capital assets) to produce outputs. Gross value added is called "gross" because it includes depreciation charges (or more precisely, consumption of fixed capital). If the value of depreciation is ...
Value added may be stated gross (equal to the net output value, including consumption of fixed capital, i.e. depreciation charges) or net (excluding consumption of fixed capital). The net operating surplus (NOS) is thus the residual balancing item in the product account, obtained as follows: Gross value added (GV) less consumption of fixed ...
A net (sometimes written nett) value is the resultant amount after accounting for the sum or difference of two or more variables. In economics , it is frequently used to imply the remaining value after accounting for a specific, commonly understood deduction.
How To Calculate Net Income. Based on the definition of “net income,” you calculate it by looking at your total revenue and subtracting any and all expenses.. Gross profit takes your total ...
In economics, gross value added (GVA) is the measure of the value of goods and services produced in an area, industry or sector of an economy. "Gross value added is the value of output minus the value of intermediate consumption; it is a measure of the contribution to GDP made by an individual producer, industry or sector; gross value added is the source from which the primary incomes of the ...
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger.
"Gross" means total product, regardless of the use to which it is subsequently put. "Net" means "Gross" minus the amount that must be used to offset depreciation – ie., wear-and-tear or obsolescence of the nation's fixed capital assets. "Net" gives an indication of how much product is actually available for consumption or new investment.
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